Asia top stories – weekly summary

SINGAPORE (ICIS)–Here are the top stories from ICIS News Asia and the Middle East for the week ended 8 January 2021.

Qatar re-opens chemical trades within GCC after diplomatic breakthrough
With Saudi-led Gulf Cooperation Council (GCC) members restoring relations with Qatar, polyethylene (PE) and polypropylene (PP) processors in Saudi Arabia can now supply products to the Qatari market.

Asia isomer MX hits 10-month high on bullish sentiment
Asia’s isomer-grade mixed xylenes (MX) prices reached a 10-month high on bullish sentiment, riding on gains in both upstream and downstream markets.

Asia naphtha nears one-year high on upbeat demand expectations
Asia’s naphtha prices are nearing one-year highs, buoyed by expectations of upbeat demand for petrochemical production.

OUTLOOK ’21: Asia PVC market to rebalance; demand recovery to continue
Asia’s polyvinyl chloride (PVC) market may see a steady recovery moving into 2021 after witnessing wild price fluctuations in 2020 caused by a coronavirus-induced demand destruction, which was followed by a sharp tightening of supply.

OUTLOOK ’21: Brighter prospects for China’s ethylene import demand in 2021
China’s ethylene import demand is expected to rebound in 2021 after a two-year contraction, buoyed by plentiful downstream start-ups.